CALIFORNIA FORECLOSURE REAL ESTATE MARKET CONDITIONS
First thing first – we need to get ride of the HVCC. If you’re in the real estate game you know – this is a problem. Do something about it and sign the petition – Help get rid of HVCC at: http://www.HVCCPetition.com .
A quick video on what’s been going on with the market. I’m a firm believer on looking at numbers and ALOT of numbers. If you can read the charts – you can block out the noise from the media and make an educated guesstimate on which way the market may go.
With the backlash of Senate Bill 1137 we saw another record fillings of NOD’s in California. In my previous video (http://www.youtube.com/watch?v=2ZP8Vuf2 wUk) I made in Jan. I spoke about what may happen. I stated we may see a huge drop in price in May, June, July… or something to that tune.
Well… we just saw another moratorium pass – I am behind the 8 ball on this… I just finished the first 3 pages only… you can read the actual draft here…
http://www.corp.ca.gov/OLP/pdf/rm/For…
With record NOD fillings and high unemployment rate – can the market soak up all of the inventory that is about to hit the market? And will the government intervene and run a series of moretorium to slow down the foreclosure? If they do intervene will the investors get a head fake and have a spike in prices with an artificial pop? I have no idea and no one else does… BUT Only time will tell…
One last thing…
A pending Senate Bill 94 will kill the loan modification companies… I’ll post a video on my take later on this week.
Jeff Coga
The Short Sale Samurai
Tags: CA Forclosure, CA Real Estate Market, California Foreclosure, California Real Estate Market, JeffCoga.com, Real Estate Market, Senate Bill 1137, Senate Bill 94, Short Sale, Short Sale Samurai, Short Sales, shortsalesbuyers.com, Unemployment Rate
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